IHC’s subsidiary Alpha Dhabi Holding completes listing on ADX
The bell ringing ceremony took place in St Regis at Saadiyat, an Alpha Dhabi hotel property the company acquired last month. The event was attended by only a few members of the management teams of Alpha Dhabi Holding, IHC and ADX, as strict health and safety protocols were implemented during the ceremony.
Mohamed Thani Murshed Al Rumaithi, Chairman of Alpha Dhabi, said, “Today’s listing is a resounding vote of confidence for Alpha Dhabi in our journey of becoming a globally recognised investment holding company and to support our growth plans into our key verticals: industry, healthcare, capital, construction and hospitality. We are really pleased to have gained the support of key institutional and retail shareholders and we would like to thank all our key stakeholders for getting us market ready.”
Mohamed Ali Al Shorafa Al Hammadi, Chairman of ADX, said, “The listing of Alpha Dhabi on the Abu Dhabi Securities Exchange represents a strong vote of confidence in our exchange and reinforces the success of the’ ADX One’ strategy in creating a dynamic equity and debt capital market ecosystem. The ADX is a core pillar of the Emirate’s ambitions to further diversify its economy and foster a business environment that nurtures innovation and creates sustainable growth opportunities for investors.”
Syed Basar Shueb, CEO and Managing Director of IHC, commented, “This is an incredibly special day for Alpha Dhabi. As a key shareholder, we would like to thank all the hardworking management team and employees who have made today possible. The company has such great potential and is entering now a hugely exciting expansion phase. This listing will help support this phase. We also like to thank the ADX with preparing the paths for Alpha Dhabi to list its shares.”
Saeed Hamad Al Dhaheri, CEO of ADX, commented, “We are pleased to welcome Alpha Dhabi to the Abu Dhabi Securities Exchange, the 99th listing on our fast growing exchange. The efforts we have made to incentivise listings and reduce transaction costs as part of our ADX One strategy have rapidly attracted new companies and enhanced market liquidity, as demonstrated by our robust performance this year. During the first five months of 2021, the exchange’s market capitalisation reached a record of over AED 950 billion and our benchmark equity index is currently the world’s fourth-best performing stock measure.”
Hamad Salem Mohammed Saeed Al Ameri, Managing Director of Alpha Dhabi, said, “Today is the mark of a particularly important milestone for Alpha Dhabi and I am immensely proud of the team and their dedication to our mission of being one of the leading investments holding companies in the UAE. We have also seen significant revenue growth in the first quarter, and we recently executed major transactions which is part of our growth strategy. There is a lot more to come and we look forward to the second half of 2021 and beyond with renewed optimism.”
Following the listing, Alpha Dhabi’s Board of Directors comprises of Mohamed Thani Murshed Ghannam Alrumaithi, Chairman; Syed Basar Shueb, Vice Chairman; Hamad Salem Mohammed Saeed Alameri, Board Member and Managing Director; Sofia Abdellatif Lasky, and Sultan Dahi Sultan Maasam Al Hemeiri.
WAM
